Progress in talks between Greece and its creditors on more funding is slow, the European Commission said on Tuesday, denying the existence of a new proposal reported by the Greek press that would give Athens cash on more favourable terms. Greek newspaper To Vima said on Monday the Commission had prepared a possible compromise, proposing that creditors should accept a lower primary surplus target from Greece in return for tax reform and a hike in sales taxes. The report lifted the Athens stock market, but the Commission in Brussels and the Greek government both denied any knowledge of such a proposal.
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